Rating Action: Moody's assigns Aa1 to Gainesville Redevelopment Authority, GA's city-guaranteed revenue bonds, outlook stableGlobal Credit Research - 01 Sep 2022New York, September 01, 2022 -- Moody's Investors Service has assigned Aa1 ratings to the Gainesville Redevelopment Authority, GA's $32.8 million Tax-Exempt Revenue Bonds (Gainesville Projects), Series 2022A and $3.1 million Taxable Revenue Bonds (Gainesville Projects), Series 2022B. Concurrently, Moody's has affirmed the Aa1 rating on the authority's outstanding Series 2012B and 2009A city-guaranteed bonds. Following the issuances, the authority will have approximately $53.9 million of city-guaranteed debt outstanding. The outlook is stable.RATINGS RATIONALEThe Aa1 rating reflects the city's strong financial position that is supported by a robust and growing tax base and prudent budget management. The rating also incorporates the city's strong full value per capita, moderate debt and pension burden, and resident incomes that are below comparably rated cities. The rating also considers the provisions of an intergovernmental contract between the city and the Gainesville Redevelopment Authority.